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Fed approves hike that takes interest rates to highest level in more than 22 years (www.cnbc.com)

submitted 1 year ago by Valdair@kbin.social to c/personalfinance@lemmy.ml

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The quarter percentage point increase will bring the fed funds rate to a target range of 5.25%-5.5%.

During a news conference, Chairman Jerome Powell said inflation has moderated somewhat since the middle of last year, but hitting the Fed’s 2% target “has a long way to go.” Still, he seemed to leave room to potentially hold rates steady at the Fed’s next meeting in September.

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[–] Turkey_Titty_city@kbin.social 4 points 1 year ago (1 children)

Good.

These are normal interest rates, historically. We should not be living an economy where loans are basically free. If companies fail because they can't pay back their loans, good. They should fail. 0-1% loans are not a good thing they encourage way too much risk and way too much over leveraging.

[–] drexy_rexy@programming.dev 1 points 1 year ago

I mean, I really do appreciate my 3.625% 30 year mortgage but I agree with you.